SAN DIEGO--(BUSINESS WIRE)--Feb. 26, 2019--
Tandem Diabetes Care®, Inc. (NASDAQ: TNDM), a leading insulin delivery
and diabetes technology company, today announced a succession plan for
its chief executive officer (CEO) and select members of its board of
directors.
CEO Succession Plan
After nearly 12 years of service as
Tandem’s President and CEO, Kim D. Blickenstaff will transition to a
newly-created position of Executive Chairman of the Board of Directors.
John F. Sheridan will succeed Mr. Blickenstaff, assuming the role of
President and CEO effective March 1, 2019. Mr. Sheridan has served as
the Company’s Executive Vice President and Chief Operating Officer since
April 2013.
“John has been an integral part of our management team, who have worked
to build a patient-centric culture of innovation and have transformed
the Company to deliver record growth,” said Kim Blickenstaff. “With this
in place, now is the right time for me to focus on external and
corporate strategy efforts as Executive Chairman. The Board and I are
confident in John’s leadership ability to advance the organization’s
day-to-day activities and to drive Tandem to the next phase of its
success.”
“Under Kim’s visionary leadership, we have become a leading insulin
delivery and diabetes technology company,” said John Sheridan. “He has
been at the helm since Tandem’s earliest days, staying true to our
mission to improve the lives of people with diabetes. He has
demonstrated unwavering support for our employees, while building a
strong core team, commercializing revolutionary products, and creating a
robust pipeline for our future. Kim and I have a collaborative working
relationship that I look forward to continuing in our new roles.”
Board of Directors Succession Plan
Dick P. Allen, who has
served on the Company’s Board of Directors since 2007, and as Chairman
since 2016, will transition to the role of Lead Independent Director.
Fred E. Cohen, M.D., D. Phil. will not stand for re-election at the
Company’s 2019 Annual Meeting of Stockholders. The Company expects that
Mr. Sheridan will be nominated to fill Dr. Cohen’s seat on the Company’s
Board of Directors as a Class III director, effective as of the
Company’s 2019 Annual Meeting of Stockholders.
“I’d like to express my gratitude and appreciation to Dick for his
significant contributions as Chairman and to Fred as a member of our
Board,” added Kim Blickenstaff. “We wish Fred continued success and are
fortunate to retain Dick’s profound commitment to the diabetes community
and his invaluable leadership skills as he assumes this new role of Lead
Independent Director of our Board.”
Kim D. Blickenstaff has served as the Company’s President and Chief
Executive Officer and as one of its directors since September 2007.
Prior to joining Tandem, Mr. Blickenstaff served as Chairman and Chief
Executive Officer of Biosite Incorporated, a provider of medical
diagnostic products, from 1988 until its acquisition by Inverness
Medical Innovations, Inc. in June 2007. Mr. Blickenstaff previously
served as a director of Medivation, Inc., a biotechnology company, from
2005 to 2016, until its acquisition by Pfizer, and as a director of
DexCom, Inc., a provider of continuous glucose monitoring systems, from
June 2001 to September 2007. He received a B.A. in Political Science
from Loyola University, Chicago, and an M.B.A. from the Graduate School
of Business, Loyola University, Chicago.
John F. Sheridan has served as the Company’s Executive Vice President
and Chief Operating Officer since April 2013. Prior to joining Tandem,
Mr. Sheridan served as Chief Operating Officer of Rapiscan Systems,
Inc., a provider of security equipment and systems, from March 2012 to
February 2013. Mr. Sheridan served as Executive Vice President of
Research and Development and Operations for Volcano Corporation, a
medical technology company, from November 2004 to March 2010. From May
2002 to May 2004, Mr. Sheridan served as Executive Vice President of
Operations at CardioNet, Inc., a medical technology company now
operating as Biotelemetry. From March 1998 to May 2002, he served as
Vice President of Operations at Digirad Corporation, a medical imaging
company. Mr. Sheridan holds a B.S. in Chemistry from the University of
West Florida and an M.B.A. from Boston University.
Dick Allen has served on the Company’s board of directors since July
2007 and as Chairman from 2007 to 2013. Mr. Allen was the President of
DIMA Ventures, Inc., a private investment firm providing seed capital
and board-level support for start-up companies in the healthcare field,
until July 2009. Mr. Allen was a co-founder of Caremark, Inc., a home
infusion therapy company that was later acquired by Baxter International
and served as a Vice President from its inception in 1979 until 1986.
Mr. Allen was also a co-founder and director of Pyxis Corporation, later
acquired by Cardinal Health, Inc. Mr. Allen served as Chairman of the
Board of JDRF International from July 2012 until June 2014. Mr. Allen
was also a Lecturer at the Stanford University Graduate School of
Business for a total of 13 years. Mr. Allen holds a B.S. in Industrial
Administration from Yale University and an M.B.A. from Stanford
University Graduate School of Business.
About Tandem Diabetes Care, Inc.
Tandem Diabetes Care, Inc. (www.tandemdiabetes.com)
is a medical device company dedicated to improving the lives of people
with diabetes through relentless innovation and revolutionary customer
experience. The Company takes an innovative, user-centric approach to
the design, development and commercialization of products for people
with diabetes who use insulin. Tandem’s flagship product, the t:slim X2™
insulin pump, is capable of remote software updates using a personal
computer and features integrated continuous glucose monitoring. Tandem
is based in San Diego, California.
Follow Tandem Diabetes Care on Twitter @tandemdiabetes, use #tslimX2,
#tconnect and $TNDM.
Follow Tandem Diabetes Care on Facebook at www.facebook.com/TandemDiabetes.
Follow
Tandem Diabetes Care on LinkedIn at www.linkedin.com/company/TandemDiabetes.
Tandem Diabetes Care is a registered trademark and t:slim X2 is a
trademark of Tandem Diabetes Care, Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190226006101/en/
Source: Tandem Diabetes Care, Inc.
Media: Steve Sabicer, 714-907-6264, ssabicer@thesabicergroup.com
Investors:
Susan Morrison, 858-366-6900 x7005, IR@tandemdiabetes.com
